Charter Services Sells a Service Plan for Commercial Computer Maintenance $$\begin{array} { | l | r | r | } \hline \quad\quad\quad&\quad&\quad \\\hline \\\hline\end{array}$$

question 109

Essay

Charter Services sells a service plan for commercial computer maintenance.The price is $1,200 per year,paid in advance.On December 1,2013,Charter sells a service plan to a new customer for cash.Please provide the journal entry to record the adjustment needed on December 31,2013.
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Recognize the principles underlying false imprisonment and its defense mechanisms.

Identify the elements of negligence and its significance in tort cases.

Define defamation, its types, and the defenses applicable to defamation cases.

Grasp the concepts of privacy rights, including rights of publicity and different invasions of privacy.

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Definitions:

Floor Plan

In finance, it refers to a type of short-term loan used by retailers to purchase high-cost inventory such as automobiles. In architecture, it's the scale diagram of the arrangement of rooms in a building.

Secured Inventory Loan

A loan that is backed by the borrower's inventory as collateral to reduce the lender's risk.

Accounts Receivable Financing

A type of financing arrangement where a company uses its outstanding invoices or receivables as collateral to secure immediate working capital from a lender.

Revolving Credit

A type of credit that does not have a fixed number of payments, in contrast to installment credit, often used for operating purposes.